US Companies Break a Sweat as Dollar Catches Fire

“Encouraged by U.S. growth and the prospect of higher interest rates, investors have sent the dollar surging—a welcome development after years of decline on the heels of loose Federal Reserve monetary policy. It’s also made it more affordable for Americans to pack their bags and travel the world.

But the renewed power of the dollar may wind up hurting the U.S. economy. A soaring currency—the U.S. Dollar Index spiked to its highest in 12 years this week—isn’t necessarily good for trade or manufacturers.”